Ecnon to invest Rs 350 cr on three projects in NCR

New Delhi: Real estate company Ecnon on Monday said it will invest Rs 350 crore to develop three projects in national capital region over the next 3-4 years.

"We will invest Rs 350 crore to develop three projects. Out of these, a group housing and an office project will be developed in Noida, while another office complex will be built in South Delhi," Ecnon CEO Kushal Dev Rathi told reporters here.

The company will construct 850 housing units in the residential complex, proposed to be built in Noida, he added. Rathi said the company is in talks with Noida Authorities to acquire land for the said two projects in the area.

When asked about the source of funding, Rathi said that "besides internal accruals, we have fundings from many individuals and venture capital firms."

Ecnon has been formed today through a joint venture between real estate brokerage firms NineONine and Elevations and Creations.